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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 22 September 14
COAL SECTOR CHAOS - GENESIS TO REVELATION - DIPESH DIPU
COALspot.com: “Let there be light”, intends the government of India but the fuel side of the story paints a blackout. The recent Suprem ...
Monday, 22 September 14
CFR SOUTH CHINA COAL SWAPS LOST ON DAY, WEEK AND MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 3.10 (-4.50%) month over month and $ 0.95 PT MT week over ...
Monday, 22 September 14
INDONESIAN COAL SWAPS LOST WEEK ON WEEK AND MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.35 (+0.69%) day on day and lost US$ 0.30 (-0.58%) per mt week on week. ...
Sunday, 21 September 14
CAPE INDEX LOST 17% W-O-W ; BALTIC DRY PLUNGES 106 POINTS
COALspot.com: This week the freight market softened a bit compared to last week.
BDI fell 8.97% week on week and closed BDI at 1075 points on ...
Friday, 19 September 14
U.S. WEEKLY COAL PRODUCTION RELATIVELY FLAT AT +0.1% - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
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- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
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- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
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- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- The University of Queensland
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Australian Coal Association
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
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